Robeco Institutional Asset Management B.V. Purchases 181,493 Shares of Veeva Systems Inc. (NYSE:VEEV)

Robeco Institutional Asset Management B.V. boosted its stake in Veeva Systems Inc. (NYSE:VEEV - Free Report) by 117.9% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 335,397 shares of the technology company's stock after buying an additional 181,493 shares during the period. Robeco Institutional Asset Management B.V. owned 0.21% of Veeva Systems worth $70,517,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in the stock. R Squared Ltd acquired a new stake in shares of Veeva Systems in the 4th quarter worth about $119,000. Patriot Financial Group Insurance Agency LLC grew its position in Veeva Systems by 0.7% in the 4th quarter. Patriot Financial Group Insurance Agency LLC now owns 6,975 shares of the technology company's stock worth $1,467,000 after purchasing an additional 51 shares during the last quarter. Foundations Investment Advisors LLC increased its stake in shares of Veeva Systems by 17.5% in the fourth quarter. Foundations Investment Advisors LLC now owns 2,947 shares of the technology company's stock valued at $620,000 after purchasing an additional 439 shares during the period. Pacer Advisors Inc. raised its holdings in shares of Veeva Systems by 442.6% during the fourth quarter. Pacer Advisors Inc. now owns 25,902 shares of the technology company's stock valued at $5,446,000 after buying an additional 21,128 shares during the last quarter. Finally, KBC Group NV boosted its position in shares of Veeva Systems by 21.0% during the fourth quarter. KBC Group NV now owns 52,790 shares of the technology company's stock worth $11,099,000 after buying an additional 9,161 shares during the period. 88.20% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Veeva Systems

In other news, SVP Jonathan Faddis sold 1,694 shares of the stock in a transaction dated Wednesday, December 4th. The stock was sold at an average price of $230.30, for a total transaction of $390,128.20. Following the transaction, the senior vice president now owns 8,061 shares of the company's stock, valued at approximately $1,856,448.30. This represents a 17.37 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Thomas D. Schwenger sold 1,126 shares of the firm's stock in a transaction that occurred on Friday, November 8th. The shares were sold at an average price of $240.01, for a total value of $270,251.26. Following the completion of the transaction, the insider now directly owns 27,013 shares in the company, valued at $6,483,390.13. The trade was a 4.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 10.50% of the company's stock.

Veeva Systems Price Performance

VEEV traded up $3.14 on Thursday, reaching $235.44. 202,055 shares of the company traded hands, compared to its average volume of 1,018,410. The company has a market cap of $38.22 billion, a price-to-earnings ratio of 58.13, a PEG ratio of 2.01 and a beta of 0.84. The stock's 50 day moving average price is $222.75 and its 200-day moving average price is $212.03. Veeva Systems Inc. has a 52-week low of $170.25 and a 52-week high of $258.93.

Analyst Ratings Changes

VEEV has been the topic of several analyst reports. StockNews.com cut Veeva Systems from a "buy" rating to a "hold" rating in a research report on Thursday, January 23rd. Scotiabank raised their price target on Veeva Systems from $235.00 to $240.00 and gave the company a "sector perform" rating in a report on Friday, December 6th. Stifel Nicolaus upped their price objective on shares of Veeva Systems from $240.00 to $272.00 and gave the stock a "buy" rating in a report on Friday, December 6th. The Goldman Sachs Group lowered shares of Veeva Systems from a "buy" rating to a "sell" rating and decreased their target price for the company from $261.00 to $200.00 in a research report on Thursday, January 23rd. Finally, Citigroup boosted their price target on shares of Veeva Systems from $281.00 to $307.00 and gave the stock a "buy" rating in a research report on Monday, December 9th. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating and seventeen have assigned a buy rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $253.96.

About Veeva Systems

Veeva Systems Inc provides cloud-based software for the life sciences industry. It offers Veeva Commercial Cloud, a suite of software and analytics solutions, such as Veeva customer relationship management (CRM) that enable customer-facing employees at pharmaceutical and biotechnology companies; Veeva Vault PromoMats, an end-to-end content and digital asset management solution; Veeva Vault Medical that provides source of medical content across multiple channels and geographies; Veeva Crossix, an analytics platform for pharmaceutical brands; Veeva OpenData, a customer reference data solution; Veeva Link, a data application that allows link to generate real-time intelligence; and Veeva Compass includes de-identified and longitudinal patient data for the United States.